On November 1, 2009 the eye of the world’s media was focused on one sporting event: the Formula One Grand Prix in Abu Dhabi. Though the 2009 Formula One title – both for constructors and drivers – had been settled two weeks earlier, the event represented the culmination of a dramatic racing season.
It was also a key milestone in the development of the Yas Marina Circuit. The prestigious venue is a key part of the ongoing and ambitious evolution of Abu Dhabi, and as such had attracted a number of major sponsors. One of these is The National Bank of Abu Dhabi (NBAD), which announced a tie up with the circuit early last month. Communicate caught up with Milad Obeid, NBAD’s advertising and communications manager, to find out the thinking behind the deal.

How did the NBAD come to be sponsoring the Abu Dhabi Grand Prix?
This sponsorship is a natural progression for the bank; we believe the NBAD is a core part of the DNA of this city. We’re committed to serving and building Abu Dhabi – and the wider UAE – by participating in milestone events and financing projects across different economic sectors that contribute to the Abu Dhabi Vision 2030. This sponsorship confirms that.

Can you give us any details of the sponsorship?
The NBAD has signed a three-year agreement to sponsor Yas Marina Circuit activities as the official partner of the circuit, and the official bank of Formula One Etihad Airways Abu Dhabi Grand Prix.
Although we are not in a position to disclose the amount [and specifics of the arrangement], the sponsorship deal provides a return on investment that we are happy with. We’re confident it will add significant commercial value to the NBAD. Formula One’s race weekends are watched by more than 600 million viewers globally; this sponsorship will further strengthen the bank’s association with world class events and enable us to reach to that global audience.
This all aligns strongly with, and reinforces, our internal and external expansion plans. In this respect our expectation is that the sponsorship deal will be the start of a long term and mutually beneficial partnership.

Are there any indirect benefits you expect to receive?
Generally speaking, it will cement our business relationships and provide the NBAD with an opportunity to leverage significant marketing and business opportunities.
In addition, it is aligned with our CSR and community support programs such as road safety.

So how will you leverage the sponsorship outside of the event itself?
We’ve launched a comprehensive marketing campaign to promote the NBAD as the official bank of the 2009 Formula One Etihad Airways Abu Dhabi Grand Prix and the Official Partner of Yas Marina Circuit.
The campaign uses two creative concepts, “Winning Formula,” and “Banking on the right track.” These are designed to convey to readers and viewers the fact that the NBAD is part of the DNA of Abu Dhabi, and shares its vision, aims, and ambitions. The two creative concepts also underline the bank’s leading position in, and long experience of, supporting people to deliver their ambitions, and its determination to stay focused as the No. 1 Arab bank.
Besides this we’re utilizing other channels and mediums to broaden our reach and visibility both locally and internationally, such as electronic banners on our corporate Web site, and competitions for customers to win tickets to attend the Abu Dhabi Grand Prix. Offering our customers opportunities to win tickets to attend one of the most anticipated events in the international sporting calendar will obviously further strengthen our relationships with them.
We launched a staff competition to give employees the opportunity to win tickets to attend the event as well. This appreciation and gratitude for the staff members who have contributed their sincere efforts is, I believe, built into our corporate culture.

How will you judge the success (or otherwise) of this sponsorship?
We have benchmarked key aspects of the business and will also be undertaking a post-implementation review.
We did our research and assessment [before undertaking the sponsorship]. It was based on these benefits – increase of brand visibility, media exposure, and conformity with our values and plans – that we committed ourselves to sponsor not only the Grand Prix event itself, but all of the circuit’s activities.

How does this sponsorship align with wider company strategy?
This investment supports our vision to be the No. 1 Arab bank since it will further strengthen the NBAD’s association with world class events, and it will enable us to reach a global audience and reinforce our internal and external expansion plans.
The NBAD pledge is to act as a role model in the economic, social and environmental development of the UAE and the other countries in which we operate. We are engaged in many vital activities in this regard, such as donations, sponsorships, corporate philanthropy, and corporate social responsibility projects. Our community support focuses on the areas of education, community development, environment, art, music, and sports. We are committed to building and serving both Abu Dhabi and the UAE.